HELOC decision making

[Brian Ellis]

Good Morning Everyone,

I am looking into using a HELOC on my primary residence (first and only home) which ive put a lot of equity into, to purchase either a fix and flip single family, or a multi family. My initial reaction is to do a single family fix/flip with a rehab loan. But ive always wanted to get into multi-families for cash flow. Either way, the down payment will tap out the HELOC funds.

Something is holding me back from actually applying for a HELOC. I know once I do, and I have the money available, I'm going to use it. I'm afraid of making a dumb decision. Ive been in debt in the past and I don't want to go backwards. The thought of borrowing on my house is scary.

I realize the past is the past, and I was young an dumb then. I wasn't responsible, or disciplined. Now I am. But I'm also well aware that I can screw up and make a bad decision even while being responsible and disciplined. 

Any guidance is appreciated, Thank you

-Brian